In addition to her current role as chief executive officer Asia, Pamela Phua (pictured) will assume the dual role of the head of Singapore branch as Johnny Heng will be stepping down to pursue other opportunities.
Michel Hofstetter, currently team head, intermediaries, will assume the role of head of intermediaries, Singapore, reporting directly to Phua. Hofstetter is an industry veteran with more than two decades of experience working with intermediaries and joined VP Bank in 2022.
In his new role he will focus on further growing the bank’s Intermediaries business and increasing share of wallet in the market.
VP Bank has also appointed Heng Yeow Kwang as head of private banking Singapore as of June 2024. Heng has more than 30 years of wealth management experience, and will report directly to Phua. In his role, he will be responsible for deepening VP Bank’s presence among private clients in Asia.
“This appointment also reflects VP Bank’s continued commitment to its private banking business as the primary complement to its intermediaries business,” said the bank in a statement.
Heng was most recently market head for Indonesia, Philippines and Japan at UOB Private Bank and has worked at Bank of Singapore, Credit Suisse, Deutsche Bank and Nomura Securities.
“These new roles and responsibilities will be instrumental in enhancing our competitiveness and differentiation in this dynamic industry,” said Phua.
